Norwalk-based GE Capital Aviation Services, the commercial aircraft leasing and financing arm of GE, today announced it signed a purchase-and-leaseback agreement with Frontier Airlines for nine new Airbus A321 aircraft.
Delivery of the first plane is scheduled for next month with the remaining ones scheduled for delivery later this year and in 2016. All nine are powered by CFM56-5B3 engines and are part of Frontier”™s existing orderbook with Airbus.
The new A321s will replace certain A319s in Frontier’s fleet. GE Capital Aviation Services said in a statement announcing the deal that it has modified the length of the A319 leases with Frontier to facilitate its fleet transition.
Headquartered in Denver, Frontier operates a fleet of more than 55 aircraft to more than 50 destinations in the U.S., Mexico, Jamaica and the Dominican Republic .
GE Capital Aviation Services owns or services a fleet of more than 2,200 aircraft ”“ 1,900 fixed wing and 300 rotary wing ”“ in operation or on order. It also provides loans collateralized on an additional 400 aircraft. It serves more than 270 customers in more than 75 countries from a network of 24 offices.
